The Tata Power Company Limited (BSE:500400) agreed to acquire Ideal Energy Projects Limited in cash on December 10, 2014. The acquisition is subject to statutory, regulatory approvals and certain conditions precedent. The transaction is expected to complete within 4 to 6 months from the signing of the agreement. Payal Tiwari of Rediffusion and Aneesha Singh of Edelman acted as public relations advisor to Tata Power.

The Tata Power Company Limited (BSE:500400) cancelled the acquisition of Ideal Energy Projects Limited on January 22, 2016. The acquisition was subject to fulfillment of certain conditions precedent. Tata Power made all efforts to arrive a workable solution to salvage a stressed asset along key stakeholders. However, the stakeholders could not conclude, leading to a non-fulfillment of the aforesaid conditions precedent.